Recession worries? Get over it, stocks are climbing 10%: Yardeni

Ed Yardeni, who has been ranked among Wall Street's best economic forecasters, predicts stocks will be 10 percent higher by this time next year.

"Is there a recession around the corner? I don't see it," Yardeni, the president of independent firm Yardeni Research, told CNBC recently. Even as speculation abounds over the Federal Reserve's timing on tightening monetary policy, the market bull believes the trend is still up.

"The bottom line here is even if the Fed [hikes] in June, we are still talking about historically low interest rates," he told CNBC's "Fast Money " this week. "I do think that the dollar will continue to strengthen, and I do think some of the panic and concerns about the commodity markets were overdone at the beginning of the year."

Even though the S&P 500 Index has soared by 13 percent since the February 11 lows, there's been chatter on the street regarding how a potential rate announcement by the Fed at its June meeting could create headwinds for stocks. There's also been increasing concern about less than stellar economic data both in the U.S. and around the globe.

Yet none of that fazes Yardeni, who thinks investors got too pessimistic at the beginning of the year. He's now making the case for economic expansion into next year.